Yes and no. As an early miner on ec2 I certainly made good money. At one point one of the miners had over half the hashrate and a quarter of a mil ec2 bill. The same miner also sold me 30k+ coins at 0.0008 when cryptonote exchange dipped that low. Playing the several swings from 0.001-0.002 that we had plus offloading a nice amount during the mintpal pump has certainly made it a profitable coin to say the least. Big money as in millions ? Probably not. Big money as in 10's or 100's of thousands. Sure. Also depends on if you held btc or cashed out to fiat. 30k coins at 0.0008 to 0.008-0.01 was approx 24btc - 200+btc. Selling that profit at $500 per btc = $100,000.
Well work it out. If someone had a quarter of a mil ec2 bill then to make even 10x much less 100x the cash out would have had to have been $2.5 mil. That's selling 500k coins right at the top (0.01 XMR and $500 BTC = $5 XMR). That's theoretically possible I suppose but it would have had to have been some incredible (and improbable) timing. Now all things are possible in trading. The price went from <0.001 to 0.01 so I'm sure someone made >10x. Same with mining. But it just wouldn't have been large quantities. In the first two weeks before the price reached 0.0017 only a total of 350k coins were mined, divided up among a significant number of miners. Some of those were using ec2 as you say, so a significant chunk of it went to Amazon, limiting potential profits (you've identified $250k, and I'm sure there was more than just that one person doing it). Anyway, I guess it depends what you consider big money (whether in USD, BTC, or % terms), so that's pretty subjective. I'm more arguing the point that one of the posters made saying nobody has made any real money out of XMR yet, that's simply not true. Could someone with a quarter mil amazon bill over the course of several months made 100-200k, easily. Could someone have traded 10x - 50x+ with well timed buys and sells over the course of XMR's life span (obviously their main chunk of coins would have had to have been bought or mined right at the beginning ) absolutely. So yeah, it comes back to what you consider big money, unless your a multi millionaire 100k-200k is big money in most peoples books. |
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Speaking of Monero speculation, there doesn't seem to be a lot of speculation in Monero … just a nice steady coin with a thoughtful and focused development team with their eyes on the prize - private transactions and fungability. When the approaching 'Great Deflation' in crypto occurs, I predict Monero will be one of the last coins standing..
But I am just speculating …
Looking at the all time price chart the other day I realized that no one has really made any money on Monero yet... Well, not crazy 10x or 100x money. As fluffy has said, the primary motivation for this is to be a currency, not get rich, but if we are lucky enough to be the premier private global ledger then we will need to be "inflated" enough to be able to send a billion dollars or two across the blockchain without any severe volatility occurring from someone buying in or selling out. That can only mean one thing, and the greedy human in me likes it. The philanthropist is keeping him on a tight leash though, and thinking of things like Job Centers for the homeless and pay-what-you-want restaurants. Early miners? Very early miners made some (I was one of them), and some very early buyers too, but the price and hash rate of the coin skyrocketed pretty fast, so both were short-lived opportunities and didn't involve that many coins. Within two weeks of launch it already traded at 0.0017 BTC, and BTC was more like 500 USD, making that a loss today (and for most of the history) in USD terms. (old OTC thread)dga and his miner optimizing effort made about 100-200K USD, I think (I'm not sure he's ever said how much they made exactly but that was the impression I got). If you traded on the swings well you could have made a bit of money, especially on the Mintpal pump up to 0.01. But it is true that no BIG money has been made on this coin yet. Yes and no. As an early miner on ec2 I certainly made good money. At one point one of the miners had over half the hashrate and a quarter of a mil ec2 bill. The same miner also sold me 30k+ coins at 0.0008 when cryptonote exchange dipped that low. Playing the several swings from 0.001-0.002 that we had plus offloading a nice amount during the mintpal pump has certainly made it a profitable coin to say the least. Big money as in millions ? Probably not. Big money as in 10's or 100's of thousands. Sure. Also depends on if you held btc or cashed out to fiat. 30k coins at 0.0008 to 0.008-0.01 was approx 24btc - 200+btc. Selling that profit at $500 per btc = $100,000. The post that you're quoting already acknowledges that people have made up to 100-200k. He's simply not considering that to be BIG money. I'm quoting the conversation but clearly mainly replying to the poster saying nobodies made 10x or 100x gains. Which isn't true. I'm adding another perspective giving my first hand experience plus smooth is saying he thinks that's how much dga made from the impression he got not how much he knows he made. Whats your problem? |
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this apparently isn't clear enough for the average people out there, as long as only nerd see bitcoin as a good thing, we cannot move on the next step
it seems that banks already know how bad their position will be if they are running for cover already, example citycoin, which is laughable....
As I've said to many people previously some people (average Joe) really don't care that much about the monetary system, how it affects them and also exactly how it works. It often takes a crisis to awaken people and due to human nature this crisis has to affect them to care. Counterparty risk is a major thing that many bitcoiners forget when convincing joe public to use bitcoin rather than trust the traditional banking system but it is a sad fact that many people don't want to be in control of their own wealth. When you can lose your life savings by losing backups of wallets its not suprising that people want to trust in traditional banking sytems. At least then they wont have their money hacked/stolen (even if bailouts come out of the tax payers pockets. Many don't understand this) |
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I like how that fucking media tries to manipulate or kill or whatever bitcoin. On of my friend heard on tue radio that karpeles was arrested.guess what was the next sentence ? "Bitcoin is dead,bitcoin is abad investment,bitcoin is a stupid game,bla bla bla.
I heard something similar from one of my friends. He asked me, "did you hear about bitcoin?" "did you hear that the leader of bitcoin was arrested?" hahahahahaha... I did attempt to clarify for him, but he kept saying that he does NOT understand, and that he is NOT going to invest into anything that he does NOT understand. I again attempted to explain a few more things to him, but it seems like he was willingly and purposefully trying NOT to understand anything related to bitcoin. He's been brainwashed by the mass media, unable to think disruptively, in a paradigm-shifting manner. Or a government agent (aka bankster) himself. Stay away from him, JayJuanGee, he's nothing but trouble. I think its harsh to say that his friend is nothing but trouble. You have to live and let live. Many people are happy with their lives and the 'luxuries' afforded to them under the current system. You can't hold it against someone if they don't wish to know about or engage in a financially disruptive technology. Many people live happy right now so why would they want to change it. This is the whole point about being early adopters and why we will come out on top if Bitcoin succeeds. |
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Speaking of Monero speculation, there doesn't seem to be a lot of speculation in Monero … just a nice steady coin with a thoughtful and focused development team with their eyes on the prize - private transactions and fungability. When the approaching 'Great Deflation' in crypto occurs, I predict Monero will be one of the last coins standing..
But I am just speculating …
Looking at the all time price chart the other day I realized that no one has really made any money on Monero yet... Well, not crazy 10x or 100x money. As fluffy has said, the primary motivation for this is to be a currency, not get rich, but if we are lucky enough to be the premier private global ledger then we will need to be "inflated" enough to be able to send a billion dollars or two across the blockchain without any severe volatility occurring from someone buying in or selling out. That can only mean one thing, and the greedy human in me likes it. The philanthropist is keeping him on a tight leash though, and thinking of things like Job Centers for the homeless and pay-what-you-want restaurants. Early miners? Very early miners made some (I was one of them), and some very early buyers too, but the price and hash rate of the coin skyrocketed pretty fast, so both were short-lived opportunities and didn't involve that many coins. Within two weeks of launch it already traded at 0.0017 BTC, and BTC was more like 500 USD, making that a loss today (and for most of the history) in USD terms. (old OTC thread)dga and his miner optimizing effort made about 100-200K USD, I think (I'm not sure he's ever said how much they made exactly but that was the impression I got). If you traded on the swings well you could have made a bit of money, especially on the Mintpal pump up to 0.01. But it is true that no BIG money has been made on this coin yet. Yes and no. As an early miner on ec2 I certainly made good money. At one point one of the miners had over half the hashrate and a quarter of a mil ec2 bill. The same miner also sold me 30k+ coins at 0.0008 when cryptonote exchange dipped that low. Playing the several swings from 0.001-0.002 that we had plus offloading a nice amount during the mintpal pump has certainly made it a profitable coin to say the least. Big money as in millions ? Probably not. Big money as in 10's or 100's of thousands. Sure. Also depends on if you held btc or cashed out to fiat. 30k coins at 0.0008 to 0.008-0.01 was approx 24btc - 200+btc. Selling that profit at $500 per btc = $100,000. |
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i am using blockchain.info but i want to switch to something else
If you don't want to run a full node I would recommend armory or electrum. Allowing you to be in control of your own keys and also restore from word seed back up. |
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Ah so thats why there has been a 200%+ pump for gmc. Surely something like this would be easily done with btc? |
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2) Do not enter any passwords or store unencrypted keys wallets etc on any computer where Microsoft Windows is the host (even in a GNU/Linux virtual machine) or on any virtual Microsoft Windows guest. This is critical. Windows malware is a very common cause for lost coins!
3) Run your own full node or nodes with an encrypted wallet.
I just want to clarify please, your are saying not to write down instructions to recreate your password or the password itself anywhere within the windows or virtual machine accessed through windows. Does this mean that virtual machine in general is considered some what severley compromised and it be more prudent to just boot to straight to linux? Thanks for your help. If you're concerned with windows malware then yes. It is better to not boot to windows at all. The point being made though is to make extra sure that no plain text passwords or password clues are being stored in the windows environment. |
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im holding ~10btc in altcoins  What kind of coin do you hold? i think thats gonna awesome if that price of the coin your hold is going up, I think holding that much in alts is very risky. I'd trade it for bitcoins and hold that instead. I think bitcoin is the only coin with any long term future and alts tend to just lose value over time. All depends whether or not you get out in profit. Sure, most alts trend to 0 but geting in early and getting out in profit is the name of the game. |
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I thought the final US marshals auction would be the last big auction on the horizon. However, Italian police have just shut down another copycat site and confiscated US$1 million worth of coins. Whether the Italians auction the coins or sell them some other way is debatable, but they'll dump them sooner or later.
Who gives a shit? That's peanuts compared to previous auctions and ultimately I'd say they had a positive effect when they clearly went into the right hands. How is that mand, this will dump the price if I'm not mistaken. Because they say that they have confiscated approx $1million euros (whatever that is, pretty shitty journalism as per usual) still, a million $'s of btc is 3500~ coins. Hardly gonna tank the price. |
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Survey is the better way but not the best. Sometimes the participants of any survey dont represent the whole of people or society, although they have chosen by a random way. The best way imo is counting the participant of any bitcoin forum like this forum, any exchangers site, gambling site, etc Maybe but traffic counts can be deceiving too. How many trolls are here that don't use Bitcoin? How many Something Awful goons? How many law enforcement officers? How many people don't give two shits about Bitcoin but came here because they heard it's great for signature campaigns and the minute that money dries up their gone? You're going to scoop up a lot of people that you don't want with traffic counts. Edit: Check out this thread - https://bitcointalk.org/index.php?topic=1139726.0Further to this, you shoudl check out the thread asking people who has 1btc or more. Im gobsmacked that 90% of the people there dont own a whole coin. If you made assumptions that 50% of the accounts on ths forum don't own a whole btc then you can see how any sorts of surveys, traffic counts etc can be deceiving. |
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LMDB sync from scratch in just over 3 hours, and daemon using only 60MB to 100MB RAM. DB is so small I can't find it. What a difference!
I haven't built monero or synched from scratch with the DB personally but this is certainly encouraging news. Impressive, very impressive. |
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Has anyone here ascended to the 21 club yet? I can't imagine how proud I will feel once that day arrives. It felt amazing until I reached my "1BTC" original goal, but I went for more. Now my next goal is owning 21 Bitcoins. This would be my super long term cold storage. Beyond 21 Bitcoins I plan to start spending often, to celebrate my success in trading. Im more than halfway there but I know I can make it with hard work dedication and luck.
21 btc is pocket change to myself and many others around here. As said earlier I think its really surprising how many people don't even own 1 coin. 6000 dollars is only pocket change for you? you must be really rich then if you have that much money, though i doubt it as you most probably cant have it unless you started from the very begining I'm not sure what that means but I was buying btc late 2012, early 2013, been trading btc and forex for a few years. Yes 21btc is pocket change. If you were here during the great mintpal alt coin pumps you could turn 1btc into 21btc in a matter of weeks. So yeah, trading forex btc and catching altcoin pumps has been a very profitable venture. Even if you didn't trade in any of that time, 21 btc at the beginning of 2013 would cost approx $2100. That's a months salary in any half decent job. Investing a months salary in something you believe isn't really that unbelievable is it ? |
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Although there is no guarantee in any bitcoin investment of not being scammed but there are few famous ones which have been running from long time and i believe reasonable: Satoshidice: https://www.satoshidice.com/Safedice: https://safedice.com/Moneypot: https://www.moneypot.com/If i were at your Place i would keep the coins with me as there is always a danger of loosing coins as one think of investing , moreover you can buy a forum account with that 0.1 BTC and let the account grow in rank and sell it after it is at good potential for reasonable BTC. Never really thought about buying accounts as an investment. I dont particularly agree with the sale of accounts but its for sure one of the least risk 'investments' that you could make. |
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Has anyone here ascended to the 21 club yet? I can't imagine how proud I will feel once that day arrives. It felt amazing until I reached my "1BTC" original goal, but I went for more. Now my next goal is owning 21 Bitcoins. This would be my super long term cold storage. Beyond 21 Bitcoins I plan to start spending often, to celebrate my success in trading. Im more than halfway there but I know I can make it with hard work dedication and luck.
21 btc is pocket change to myself and many others around here. As said earlier I think its really surprising how many people don't even own 1 coin. |
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I am pretty sure they are not lost ...
Nobody on this earth would be so dumb to lose the key to 550,000 BTC (it could be even 850,000...)
Not even Karpeles would be able to let this happen...
have you not read the Reddit AMA? The guy was using one account for himself and customers money. He also let nobody else have access to the back end meaning if he fell under a bus, goodbye funds and btc. He also deployed and tested updates on the live system. Plus when he did the historical 424k transfer HE VNC'D INTO A LINUX MACHINE TO DO IT. Meaning he was keeping nearly 500k btc in one hot wallet and using a graphical interface to access it and you saying he couldn't of lost/misplaced/spent/had hacked the rest of the coins, say whaaaa?! |
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There is no doubt that some of these factors aided the price rise of 2013. I certainly dont think it is the highest we will ever see BTC though. Supply and demand will see to that.
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Yeah, remember how Mark suddenly found 200k coins and no one bought it? I think he actually did "just" find those coins. Word is the place was a mess.
Those coins might never be coming back.
I think most would prefer that the coins were lost/destroyed rather than stolen. At least then everyone's remaining holdings are worth slightly more rather than having enriched some thief, whether an insider or outside in the Gox operation. Imo they were stolen in the 2011 hack. It explains everything perfectly including the need to suddenly try and buy the coins back, running up the price. |
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Most 'inestment' sites are just ponzi scams. Do your due dilligence and dont forget. If it sounds too good to be true, its probably is.
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I'm a lender on Bitfinex so I earn btc everyday  Also day trade so earn btc from that on a regular basis as well. |
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